Interactive Strength completes $55 million initial investment, launches crypto treasury strategy and begins acquisition of FET

According to Foresight News, Nasdaq listed company Interactive Strength (stock code TRNR) completed an initial investment of $55 million on June 13th, launching its cryptocurrency treasury strategy and beginning to acquire FET through its custodian BitGo. Interactive Strength will continue to use the remaining net proceeds from the initial financing to acquire FET on the public market, and use any net proceeds from additional financing to acquire FET after the $500 million financing is completed. Foresight News previously announced that Interactive Strength plans to raise up to $500 million through a securities purchase agreement, with the proceeds going towards purchasing Fetch.ai's token FET to build a treasury focused on artificial intelligence tokens. ATW Partners and DWF Labs invested $55 million in their first round of funding.